Sole Proprietor is better choice than Pte Ltd ?

Do you agreed with above statement ?

Public always have impression that sole proprietor is great choice to start entrepreneurship compare with Pte Ltd due to the following 2 major reason :

• compliance cost and
• complicated incorporation requirement

But asked yourself is Separate legal entity concept carry by PTE LTD good enough to change your mind ?

Separate Legal entity means that your personal asset will be protected if anything happen to your business example company been sued ,

Sole proprietorship NOT able to provide above protection.

If sole proprietorship still your choice, you need to take note of the following:

• Is the business type consider high risk ? Example business transaction involved with huge amount of cash
• Is the business compliance level is high example you need to comply with different country regulations
• Is the business involve with high risk country example is listed as FATF watch list